Volume Spike: Microsoft Goes FUBAR (MSFT)

Posted in General 
January 22nd, 2009

Microsoft Corporation (NASDAQ: MSFT) is dropping the ball in a weird way.  The company decided to issue earnings pre-market rather than late after the close of trading.  It isn’t pretty.  The full news summary is here, but it missed earnings, predicted a decline in revenues, cut cap-ex, and slashed 5,000 jobs.  And to top it off, the company “can no longer offer quantitative guidance.”

There is no way to expect that this would have been taken well.  Shares are doiwn 7% at $17.94 as of 9:22 AM EST on more than 4.9 million shares.  The average volume is 84 million shares, so you might as well expect this to be one of the volume leaders.

JON OGG

JANUARY 22, 2009

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